Bright Morning - 20 July 2026

Bringing the latest market news closer to you.

Macroeconomy

• Oil prices rose on Monday as United States targeted Iran with a fresh round of strikes. The latest escalation came after the U.S. military confirmed a third American service member had been killed in recent operations.
• Philippine government's main revenue-generating agencies are confident of meeting their revised full-year targets, after posting higher collections in the first half of the year. Bureau of Internal Revenue (BIR) Commissioner Charlito Martin R. Mendoza said faster economic growth in the second half of the year will boost tax collection.

Fixed Income

• Peso government bond yields were 2-7 bps higher. Better selling interest was seen as rising oil prices continue to dampen sentiment.
• US treasury yields were mixed with short maturities underperforming. Rising oil prices drove 2-year yields higher as the US-Iran conflict escalate while longer maturities were little changed.

Equities

• Global equities declined 1.16% as a sharp selloff in semiconductor and Al-related stocks weighed on sentiment. Escalating Middle East tensions and rising oil prices also heightened concerns over inflation and growth.
• The PSEi surged to close the week out last Friday, up 1.25% to 6,404 pts as investors continued to find valuations attractive despite rising Oil prices ahead of 2nd quarter earnings season.

Daily Market Movements